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NE Iowa | Making the farming sibling buy out the non-farming siblings at market price is what is destroying family farms these days. Too often the non-farming siblings sees the value of this land and they think they need an equal portion. Yet the value of the land means nothing unless the sibling inheriting the land decides to sell it, and that can easily be prevented with estate planning tools. If you want to make things fair between siblings, the only thing you need to look at is the returns from the assets they'll each be inheriting. In most cases, the non-farming sibling can inherit a couple hundred thousand dollars in cash and make the same returns as the farming sibling does off the land that's worth millions. | |
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what does farming look like in 5 years?
